SPAI

MKT CAP:$73M

Safe Pro Group Inc. Common Stock

Market Cap

$73M

Industrials·Aerospace & Defense·🇺🇸 United States·NASDAQ

Industrials·Aerospace·🇺🇸·NASDAQ

Stock Price

$4.41+$0.26 (+6.27%)

Apr 16, 2026

Company Details

Safe Pro Group Inc. manufactures and sells personal protective gear and ballistic protection products in the United States. The company offers explosive ordinance disposal and unexploded ordinance disposal products; ballistic vests; and bod...

CEO

Daniyel Erdberg

IPO Date

Sep 12, 2023

Website

safeprogroup.com

Key Metrics TTM

Revenue

$606.7K

-72.0% YoY

Net Income

-$14M

EPS (Diluted)

-$0.89

Free Cash Flow

-$6M

Revenue / Share

$0.04

Gross Margin

33.3%

Operating Margin

-2260.6%

Net Margin

-2360.8%

FCF Margin

-1046.7%

P/S

121.1x

P/E

—

Earnings Reports

FY 2025

Dec 31, 2025

$606.7K-72.0%EPS -$0.84

Q4 2025

Dec 31, 2025

$227.7K-74.4%EPS -$0.20

Q3 2025

Nov 14, 2025

$101.4K-69.3%EPS -$0.29

Q2 2025

Aug 14, 2025

$92.8K-85.6%EPS -$0.13

Q1 2025

May 15, 2025

$184.8K-39.9%EPS -$0.27

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 23	$373.5K	-$226.6K	-$482.1K
Q2 23	$103.0K	$47.5K	-$730.3K
Q3 23	$163.5K	$62.4K	-$678.2K
Q4 23	$277.7K	$77.9K	-$4M
Q1 24	$307.7K	$127.2K	-$1M
Q2 24	$643.0K	$184.6K	-$1M
Q3 24	$330.8K	$134.2K	-$4M
Q4 24	$887.8K	$463.8K	-$1M
Q1 25	$184.8K	$61.6K	-$4M
Q2 25	$92.8K	$31.6K	-$2M
Q3 25	$101.4K	$33.6K	-$4M
Q4 25	$227.7K	$75.5K	-$4M

Valuation

Quarter	P/S	P/E
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	45.9x	—
Q1 24	49.5x	—
Q2 24	30.3x	—
Q3 24	25.4x	—
Q4 24	22.1x	—
Q1 25	11.4x	—
Q2 25	27.1x	—
Q3 25	81.0x	—
Q4 25	117.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$517.8K	$0
Q2 23	-$652.6K	-$652.6K
Q3 23	-$581.7K	-$610.4K
Q4 23	-$251.9K	-$253.3K
Q1 24	-$568.0K	-$568.0K
Q2 24	-$591.5K	$0
Q3 24	-$2M	-$2M
Q4 24	-$1M	-$1M
Q1 25	-$941.8K	-$960.0K
Q2 25	-$1M	-$1M
Q3 25	-$2M	-$2M
Q4 25	-$3M	-$3M

Capital Expenditures

Quarter	CapEx
Q1 23	$517.8K
Q2 23	$0
Q3 23	$28.7K
Q4 23	$1.4K
Q1 24	$0
Q2 24	$591.5K
Q3 24	$2.9K
Q4 24	$210.0K
Q1 25	$18.2K
Q2 25	$102.5K
Q3 25	$5.0K
Q4 25	$7.8K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 24	-17.6%	+62.8%
Q2 24	+524.2%	+111.9%
Q3 24	+102.2%	+360.1%
Q4 24	+219.7%	-51.2%
Q1 25	-39.9%	+200.9%
Q2 25	-85.6%	+14.2%
Q3 25	-69.3%	+11.3%
Q4 25	-74.4%	+66.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$37.5K	36.4%
Q3 23	$0	0.0%
Q4 23	$4M	1261.8%
Q1 24	$98.0K	31.9%
Q2 24	$0	0.0%
Q3 24	$2M	725.6%
Q4 24	-$95.4K	-10.7%
Q1 25	$3M	1444.4%
Q2 25	$1M	1102.0%
Q3 25	$0	0.0%
Q4 25	$858.7K	377.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 23	$22.0K	—	—	$233.6K
Q2 23	$130.5K	$175.5K	$2.8K	—
Q3 23	$91.5K	$603.6K	—	—
Q4 23	$129.7K	$4M	—	—
Q1 24	$85.8K	$1M	—	—
Q2 24	—	$1M	—	—
Q3 24	—	$3M	$418.4K	—
Q4 24	$4.4K	$2M	—	—
Q1 25	—	$4M	$355.9K	—
Q2 25	$17.9K	$1M	$370.8K	—
Q3 25	$109.8K	—	—	$602.7K
Q4 25	$266.6K	$3M	—	—

Revenue Segments

Quarter	Product	Service
Q2 24	$584.1K	$58.9K
Q3 24	$98.6K	$232.1K
Q1 25	$140.6K	$44.2K
Q2 25	$48.7K	$44.0K
Q3 25	$81.1K	$20.3K

Revenue by Geography

Quarter	Asia Pacific	Europe	United States
Q3 24	-$2.4K	$4.4K	$326.4K

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 23	$703.4K	$0	$703.4K
Q1 24	$399.6K	$0	$399.6K
Q2 24	$176.0K	$0	$176.0K
Q3 24	$2M	$0	$2M
Q4 24	$2M	$0	$2M
Q1 25	$912.2K	$0	$912.2K
Q2 25	$805.6K	$0	$805.6K
Q3 25	$8M	$0	$8M
Q4 25	$17M	$0	$17M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 23	7M	—	—
Q2 23	8M	+5.1%	—
Q3 23	14M	+73.6%	—
Q4 23	14M	0.0%	—
Q1 24	14M	0.0%	+82.4%
Q2 24	14M	0.0%	+73.6%
Q3 24	11M	-21.2%	-21.2%
Q4 24	15M	+34.9%	+6.2%
Q1 25	15M	+1.5%	+7.8%
Q2 25	15M	+3.1%	+11.2%
Q3 25	17M	+12.3%	+58.5%
Q4 25	17M	0.0%	+17.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	$80.7K	11
Q1 25	$16.8K	11
Q2 25	$8.4K	11
Q3 25	$9.2K	11
Q4 25	$20.7K	11

Revenue / Employee